Technical analysis for major currencies

Hello everyone , in this blog , I'll be releasing a weekly report for major currencies (EUR/USD, GBP/USD, USD/CHF & USD/JPY), any important changes happen or good signals appeare , they will be updated immediately during the week ?!!

The point is the pair now is going to test 1.6208 , a breach above this level will attack 1.6345 , if the pair fails to breach above it , we may witness strong bearish movement today or the next 48 hours?!!

During the last week , the SMA(50) and (20) kept pressuring negatively on the pair , so far the pair found strong support around 0.9200, a breach below this level will attack 0.9100 and the psychological level 0.9000

CCI and Bollinger band show that we may witness some strong correction during the week ?!!

Trend Direction is Downward , the trend will remain valid as long as stability is below 0.9360 , a daily breach above this level will test 0.9500 and late the bearish wave ?!!!

Support 0.9260 0.9200 0.9150 0.9100 0.9070

Resistance 0.9330 0.9360 0.9430 0.9525 0.9575

Recommendations: Sell the pair with a four hour closing below 0.9200 take profit 0.9000 and stop loss 0.9300

During the last week , the pair moved above 20 SMA , 50 SMA on daily chart , but it couldn't hold too much above them, so it came back quickly and closed below them , also RSI still trading below 50 line , CCI below zero line but above - 100 line , Macd below zero line but the histogram keeps going up?!!

And the most important , the pair starts forming downward channel on daily ?!!

If you shift down to 4 hour chart , we have a positive cross EMA(20) , EMA(50) also the pair is trading now above them ?!!

All these conflicts lead to one thing ?!! we have high opportunity for bearish movement this week but , we may witness some randomization in pair movement during the week , so the safety is to trade only with a breach below the low of the previous week ?!!!

Trend Direction is Downward , technical targets are around 80.25 , 79.50 , the trend will remain valid as long as stability is below 82.35 , a daily breach above this level will weak and late the bearish trend and may attack 83.00 and 84.00

Support 82.15 81.60 80.80 80.35 79.50

Resistance 82.95 83.15 83.70 84.25 85.00

Recommendations : Sell the pair with a four hour closing below 81.55 , take profit 79.50 and stop loss with a four hour closing above 82.35